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Suggest You - Europe's Textile And Clothing Producer Gear Up For Expansion
The cost of presenteeism has now surpassed the cost of absenteeism. Presenteeism, which refers to sick employees who come to work instead of staying at home, now surpasses $180 billion annually. Absenteeism, where the employee does not report to work, costs $118 billion annually and medical expenses and lost productivity.Employee “illness” can be grouped into five different categories. The Society for Human Resource Management (SHRM) breaks down the impact in this way:1. Personal illnesses account for 35% 2. Family issues make up 21% 3. Personal needs combine for 18% 4. An entitlement mentality accounts for 14% 5. Stress makes up the final 12%The SHRM figures refer to absenteeism alone, therefore may not be applicable in the same percentages to presenteeism. However some presenteeism will fall in
European mentality towards doing business
Another competitive advantage is that Bulgarian textile and clothing industry enterprises have a more European mentality towards doing business than their competitors in low cost Asian countries such as China and India.
Fixed exchange rate
The Bulgarian Leva is pegged to the euro at a fixed rate (Lv1.95583:Euro1.00) and it is forecast that this rate will continue until 2010. For potential investors based in the EU, a fixed rate of exchange removes currency risk. By contrast, in countries where the exchange rate is not fixed to the investor’s home currency, investment values could decline if t
Sooner than later, the lines at your local fast food joints will be filled with more summer job seekers than hungry customers. Mallrats will be replaced by well-mannered students with r?sum?s in hand. And your parents will begin a steady, annoying cadence that will only end when you’ve got a place to finally stamp your timecard:“Have you’ve found a job yet… Have you’ve found a job yet? Have you’ve found a job yet?!?!”Well, have you?Sure, you can choose to diss the job search all together, and spend the summer bored, broke and having to do mom and dad’s laundry every morning just to pass the time. But that’s just awkward for everyone.In other words, you need a job. And in order to beat the flood of slackers that will spill onto the ‘Net and into stores once we work our way into June, you need t
Between 2000 and 2006, Bulgarian production of textiles expanded by 152%, while output of clothing increased by 109%. By comparison, EU production of textiles fell by 21% over the six year period, while output of clothing fell by 32%.
Furthermore, as one of the two newest members of the EU, growth of the Bulgarian textile and clothing industry seems set to continue.
The textile and clothing sector’s success can be attributed to a variety of favourable factors.
Small to medium sized enterprises
Between 65% and 95% of firms within the Bulgarian textile and apparel industry are small and medium sized enterprises (SMEs). These types of companies are characterised by their ability to:
* be flexible in their manufacturing operations;
* react quickly to changes in clients’ needs;
* provide speedy delivery;
* respond rapidly to requests for improvements in quality.
Geographical location
Bulgaria’s geographical proximity to the EU has enabled Bulgarian textile and clothing manufacturers to build strong relationships with customers in the EU and other nearby markets, especially when some of their closest competition in terms of price and quality are low cost Asian manufacturers in China and India.
Low wages
Average wage costs in Bulgaria are lower than in any other EU country (including Romania) and are also lower than in Sri Lanka, Indonesia and Russia. Salaries are on a par with those in Egypt, Mexico, certain parts of eastern China and Ukraine.
Labour costs play an important role in the competitiveness of textile and clothing manufacturers, particularly given the intense competition that manufacturers face from low cost producers in Asian countries. With this in mind, the fact that Bulgarian producers can compete with Chinese producers in terms of labour costs gives them an important advantage in an increasingly competitive marketplace.
Removal of hold-ups and tariffs at customs
As part of EU membership, trade between Bulgaria and other EU member states is free from customs duties. Also, hold-ups at border points have been minimised. This should result in quicker deliveries to EU export markets, shorter transportation times, and reduced logistics costs.
Harmonised health, safety and environmental (HSE) regulations
A number of government enforced regulations -- such as those relating to health, safety and the environment -- have been harmonised with those of the EU. As a result, Bulgarian manufacturers who achieve international quality and environmental certification will stand in good stead with European buyers. These improvements may also open up Bulgaria’s textile and clothing industry to a wider range of potential investors who enforce strict health, safety and environmental (HSE) policies with respect to their business operations.
European mentality towards doing business
Another competitive advantage is that Bulgarian textile and clothing industry enterprises have a more European mentality towards doing business than their competitors in low cost Asian countries such as China and India.
Fixed exchange rate
The Bulgarian Leva is pegged to the euro at a fixed rate (Lv1.95583:Euro1.00) and it is forecast that this rate will continue until 2010. For potential investors based in the EU, a fixed rate of exchange removes currency risk. By contrast, in countries where the exchange rate is not fixed to the investor’s home currency, investment values could decline if th
Are your considering a move into self-employment? Do you wish to add a small business of your own into your American Dream? Have you been looking around at various business opportunities and businesses that you might see yourself doing? Have you been slowing refining your options down and have now got the list down to a dozen or so possible businesses that you would enjoy doing?You would be surprised how many people this time of year begin to think about their future in this way. You have probably also heard of the risks of owning your own business as it is not as easy as it looks. Often you will work longer hours with no guarantees of a paycheck. In fact you the failure rate in this nation for small businesses is quite high and the deck is tacked against you. The laws whereas they pretend to be pro-small business are actually ther
* be flexible in their manufacturing operations;
* react quickly to changes in clients’ needs;
* provide speedy delivery;
* respond rapidly to requests for improvements in quality.
Geographical location
Bulgaria’s geographical proximity to the EU has enabled Bulgarian textile and clothing manufacturers to build strong relationships with customers in the EU and other nearby markets, especially when some of their closest competition in terms of price and quality are low cost Asian manufacturers in China and India.
Low wages
Average wage costs in Bulgaria are lower than in any other EU country (including Romania) and are also lower than in Sri Lanka, Indonesia and Russia. Salaries are on a par with those in Egypt, Mexico, certain parts of eastern China and Ukraine.
Labour costs play an important role in the competitiveness of textile and clothing manufacturers, particularly given the intense competition that manufacturers face from low cost producers in Asian countries. With this in mind, the fact that Bulgarian producers can compete with Chinese producers in terms of labour costs gives them an important advantage in an increasingly competitive marketplace.
Removal of hold-ups and tariffs at customs
As part of EU membership, trade between Bulgaria and other EU member states is free from customs duties. Also, hold-ups at border points have been minimised. This should result in quicker deliveries to EU export markets, shorter transportation times, and reduced logistics costs.
Harmonised health, safety and environmental (HSE) regulations
A number of government enforced regulations -- such as those relating to health, safety and the environment -- have been harmonised with those of the EU. As a result, Bulgarian manufacturers who achieve international quality and environmental certification will stand in good stead with European buyers. These improvements may also open up Bulgaria’s textile and clothing industry to a wider range of potential investors who enforce strict health, safety and environmental (HSE) policies with respect to their business operations.
European mentality towards doing business
Another competitive advantage is that Bulgarian textile and clothing industry enterprises have a more European mentality towards doing business than their competitors in low cost Asian countries such as China and India.
Fixed exchange rate
The Bulgarian Leva is pegged to the euro at a fixed rate (Lv1.95583:Euro1.00) and it is forecast that this rate will continue until 2010. For potential investors based in the EU, a fixed rate of exchange removes currency risk. By contrast, in countries where the exchange rate is not fixed to the investor’s home currency, investment values could decline if t
Consolidated Freight Bankruptcy-What does it mean?Research-Transportation SectorWhat does the Consolidated Freight Bankruptcy really mean to you and I? Well; Consolidated Freightways operated one of the world's largest less-than-truck-load (LTL) transportation networks. The company's highly skilled 20,000 professionals specialize in long haul freight transportation throughout North America. Many businesses use to ship with CF. This was because of Consolidated Freights vast network of 350 terminals and more than 30,000 over-the-road vehicles, which served virtually every market in the U.S., Canada and Mexico. Shipments typically move between 500 and 3,000 miles and weigh between 300 and 15,000 pounds.Consolidated Freight's core markets were concentrated in North America and include integrated trucking capabilities to
Labour costs play an important role in the competitiveness of textile and clothing manufacturers, particularly given the intense competition that manufacturers face from low cost producers in Asian countries. With this in mind, the fact that Bulgarian producers can compete with Chinese producers in terms of labour costs gives them an important advantage in an increasingly competitive marketplace.
Removal of hold-ups and tariffs at customs
As part of EU membership, trade between Bulgaria and other EU member states is free from customs duties. Also, hold-ups at border points have been minimised. This should result in quicker deliveries to EU export markets, shorter transportation times, and reduced logistics costs.
Harmonised health, safety and environmental (HSE) regulations
A number of government enforced regulations -- such as those relating to health, safety and the environment -- have been harmonised with those of the EU. As a result, Bulgarian manufacturers who achieve international quality and environmental certification will stand in good stead with European buyers. These improvements may also open up Bulgaria’s textile and clothing industry to a wider range of potential investors who enforce strict health, safety and environmental (HSE) policies with respect to their business operations.
European mentality towards doing business
Another competitive advantage is that Bulgarian textile and clothing industry enterprises have a more European mentality towards doing business than their competitors in low cost Asian countries such as China and India.
Fixed exchange rate
The Bulgarian Leva is pegged to the euro at a fixed rate (Lv1.95583:Euro1.00) and it is forecast that this rate will continue until 2010. For potential investors based in the EU, a fixed rate of exchange removes currency risk. By contrast, in countries where the exchange rate is not fixed to the investor’s home currency, investment values could decline if t
The importance of clear differentiation for your product and service proposition cannot be overstated. Take any highly successful organisation and you will invariably find a distinctive range of products and services that deliver value and results to its customers. You most likely operate in an extremely competitive market as do most businesses today.While pricing is always a buying factor it is certainly not the only consideration in the buying decision process. You may choose to operate at a level where you are attempting to compete almost exclusively on price. Even for the largest organisations this is always a dangerous game to play. Your margins become stripped, your proposition becomes a commodity and you sacrifice adding value to your customer buying experience for a cheaper product or service.You only have to look at
Harmonised health, safety and environmental (HSE) regulations
A number of government enforced regulations -- such as those relating to health, safety and the environment -- have been harmonised with those of the EU. As a result, Bulgarian manufacturers who achieve international quality and environmental certification will stand in good stead with European buyers. These improvements may also open up Bulgaria’s textile and clothing industry to a wider range of potential investors who enforce strict health, safety and environmental (HSE) policies with respect to their business operations.
European mentality towards doing business
Another competitive advantage is that Bulgarian textile and clothing industry enterprises have a more European mentality towards doing business than their competitors in low cost Asian countries such as China and India.
Fixed exchange rate
The Bulgarian Leva is pegged to the euro at a fixed rate (Lv1.95583:Euro1.00) and it is forecast that this rate will continue until 2010. For potential investors based in the EU, a fixed rate of exchange removes currency risk. By contrast, in countries where the exchange rate is not fixed to the investor’s home currency, investment values could decline if t
Do you love, love, love to drive? If so, you may be interested in a career as a professional driver. The list includes quite a few opportunities and as long as you meet the requirements, e.g., have an excellent driving record, current license and pass any required testing, you’d be a good candidate. And in a lot the instances, you can actually start your own service company and be your own boss.Limo DriverLimo drivers are an especially good option for people who like people. They usually make a standard rate and when allowed, can also receive gratuities. Keep in mind that most limo drivers need to be ‘on-call’ and ready to roll at a moment’s notice and all are required to hold a special license. In addition to the usual prom, airport, wedding and events fares, there are also opportunities for ‘personal’ driv
European mentality towards doing business
Another competitive advantage is that Bulgarian textile and clothing industry enterprises have a more European mentality towards doing business than their competitors in low cost Asian countries such as China and India.
Fixed exchange rate
The Bulgarian Leva is pegged to the euro at a fixed rate (Lv1.95583:Euro1.00) and it is forecast that this rate will continue until 2010. For potential investors based in the EU, a fixed rate of exchange removes currency risk. By contrast, in countries where the exchange rate is not fixed to the investor’s home currency, investment values could decline if there were a significant fall in the value of the local currency.
Challenges
Admittedly the sector faces a number of challenges, and these need to be addressed if the future development of the textile and clothing sector is to be secure.
The migration of skilled workers, or a "brain-drain"
One threat to the future of the textile and clothing industry in Bulgaria is that a large proportion of its skilled labour, particularly those who can speak English, will migrate to better paid jobs in other parts of the EU and leave the industry in Bulgaria short of skilled labour.
New regulations may force factory shut-downs
Companies may also find that adherence to new health, safety and environmental regulations is a challenge. Poorer companies may not be able to afford the costs which are necessary to implement changes to their business operations. Some closures may therefore be inevitable. However, on the positive side, the operations which shut down represent opportunities for foreign investors who are looking to buy production facilities in Bulgaria. Furthermore, the companies which survive will be fitter and leaner, and therefore better able to survive in the post-quota era.
Low labour productivity and underinvestment
Labour productivity in the Bulgarian textile and clothing sector equates to only 38.1% of the EU average, and the level of investment in new equipment and capacity expansion is low. Bulgarian clothing manufacturers are reluctant to modernise because they are unable to recoup their investment costs by raising prices without losing their competitiveness. Consequently, any increases in costs must be borne by manufacturers through a reduction in profit margins.
Reliance on textile imports
The Bulgarian clothing sector tends to rely on imported textiles from other countries rather than use domestically produced textiles. This often leads to longer production lead times and hence slower response, as well as higher raw material costs.
The output of the Bulgarian textile sector is not large enough to support the local clothing market. Consequently, unless there is a concentrated burst of investment in the textile industry, clothing manufacturers will remain dependent on imports of textiles for their raw materials and their profit margins will be decided in part by the price of textile imports.
Outlook
In general, it seems that the textile and clothing industry in Bulgaria is on a knife edge. On the one hand, investment will be needed if the industry is to maintain the growth pattern witnessed since the start of the decade. There is also known to be a grey economy, and illicit working practices will need to be stamped out now that Bulgaria is part of the EU. On the other hand, Bulgaria has a number of advantages as the lowest cost EU country. EU membership may encourage much needed large-scale investment in
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